PirateCash
Crypto Overview
Overview
PirateCash is a privacy-focused cryptocurrency project that aims to provide anonymous transactions through zero-knowledge proofs and other privacy-enhancing technologies. The project launched in 2019 with the goal of creating a fungible digital currency where all transactions are private by default.
Purpose and Utility
The primary intended use case is as a private medium of exchange, allowing users to conduct financial transactions without revealing transaction details or wallet balances to outside observers. This differs from transparent blockchains like Bitcoin where all transaction data is publicly visible.
Technical Implementation
PirateCash implements zk-SNARK technology for transaction privacy. All transactions on the network are shielded by default, meaning transaction amounts and addresses are not visible on the public blockchain.
Current Usage and Adoption
The project maintains active development with regular updates to its core protocol. While exact adoption metrics are difficult to determine due to the private nature of transactions, the network continues to process transactions and maintain mining operations securing the network.
Business Model Evaluation
The core utility of private transactions aligns with halal principles as it facilitates legitimate commerce and protects financial privacy. The project does not involve interest-bearing products, gambling, or other prohibited activities.
Token Distribution
PirateCash launched with proof-of-work mining and did not have a pre-mine or ICO, suggesting a fair distribution model without founder enrichment schemes.
Crypto Impact
To assign a comfort level investing in PirateCash from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to PirateCash.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.